MIRA
INFORM REPORT
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Report Date : |
24.07.2007 |
IDENTIFICATION DETAILS
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Name : |
CIRCLE SIGN CO., LTD. |
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Registered Office : |
69/42 Moo 7, |
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Country : |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
2005 |
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Com. Reg. No.: |
0125548006478 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importing and distributing of
sheet insulators for
various industries. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name
CIRCLE SIGN CO., LTD.
SUMMARY
BUSINESS ADDRESS : 69/42
MOO 7,
T.
SAOTHONGHIN, A. BANGYAI,
TELEPHONE : [66] 2961-2120
FAX : [66] 2961-2119
REGISTRATION ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED : 2005
REGISTRATION NO. : 0125548006478 [Former : 0127354806471]
CAPITAL
REGISTERED : BHT.
1,000,000
CAPITAL
PAID-UP : BHT.
1,000,000
FISCAL
YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. THANIS ORN-EK,
THAI
MANAGING DIRECTOR
NO. OF
STAFF : 5
LINES OF
BUSINESS : SHEET INSULATOR
IMPORTER AND
DISTRIBUTOR
CORPORATE PROFILE
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH
MANAGEMENT STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The
subject was established
on May 25,
2005 as a
private limited company under
the name style
CIRCLE SIGN CO.,
LTD., by Thai
groups, with the business
objective to import
and distribute sheet
insulators to domestic
market. It currently employs
5 staff.
The
subject’s registered address
is 69/42 Moo
7, Rattanathibeth Rd.,
T. Saothonghin, A. Bangyai, Nonthaburi
11140, and this
is the subject’s
current operation address.
THE BOARD
OF DIRECTOR
Mr. Thanis Orn-ek
AUTHORIZED PERSON
The above director
can sign on
behalf of the
subject with company’s
affixed.
MANAGEMENT
Mr. Thanis Orn-ek
is the Managing
director.
He is Thai
nationality with the
age of 41
years old.
BUSINESS OPERATIONS
The subject is
engaged in importing
and distributing of
sheet insulators for
various industries.
IMPORT
100%
of the products
is imported from
Republic of China
and India.
SALES
The products are
sold locally by
wholesale to dealers
and end-users.
REVENUE
In
2006, the subject’s
revenue was increased
around 10-20% from
the previous year.
SUBSIDIARY AND
AFFILIATED COMPANY
The subject is
not found to
have any subsidiary
nor affiliated company
here in Thailand.
LITIGATION
Bankruptcy and Receivership
There are no
litigation on bankruptcy
and receivership cases
filed against the
subject found at
Legal Execution Department
for the past
five years.
Others
There are no
legal suits filed
against the subject for
the past two
years.
CREDIT
Sales are by
cash or on
the credits term
of 30-60 days.
Imports are by
L/C at sight
or T/T.
BANKING
Bank of Ayudhya
Public Company Limited
Kasikornbank Public Co.,
Ltd.
EMPLOYMENT
The
subject employs 5
staff.
LOCATION DETAILS
The
premise is owned
for administrative office
at the heading
address. Premise is
located in commercial/residential area.
COMMENT
The subject has been established
in 2005. The
financial statement for
2005 were reported
a slow sales,
however the subject’s operating performance
has been gradually
improved. It is
believed that the
company is doing
moderate business and
expanding steadily.
FINANCIAL INFORMATION
The
capital was registered
at Bht. 1,000,000
divided into 10,000
shares of Bht. 100
each with fully
paid.
THE SHAREHOLDERS
LISTED WERE :
[as at
April 25,
2006]
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NAME |
HOLDING |
% |
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Mr. Thanis Orn-ek Nationality: Thai Address : 68/43
Klongmahanark, Pomprab, |
8,200 |
82.00 |
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Ms.
Siriporn Ruengsiri Nationality: Thai Address : 69/42
Moo 7,
Saothonghin, Bangyai, Nonthaburi |
300 |
3.00 |
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Ms.
Thipsuda Ruengsiri Nationality: Thai Address : 69/42
Moo 7,
Saothonghin, Bangyai, Nonthaburi |
300 |
3.00 |
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Ms.
Pantharee Ruengsiri Nationality: Thai Address : 69/42
Moo 7,
Saothonghin, Bangyai, Nonthaburi |
300 |
3.00 |
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Mr. Saroj Rohitarasmee Nationality: Thai Address :
Klongsan, |
300 |
3.00 |
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Mr. Thawin Sriratanai Nationality: Thai Address : 153
Suanluang, |
300 |
3.00 |
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Mr. Prasong Charnwitsathaporn Nationality: Thai Address : |
300 |
3.00 |
Total Shareholders
7
NAME OF
AUDITOR & CERTIFIED
PUBLIC
ACCOUNTANT NO.
Ms. Patcharin O-pan No.
8095
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2005 was:
ASSETS
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Current Assets |
2005 |
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Cash in hand
& at Bank
[note 1] |
186,553.24 |
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Trade Accts. Receivable |
345,820.79 |
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Inventories |
309,845.00 |
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Other Current Assets
[note 2]
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521.97 |
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Total Current
Assets |
842,741.00 |
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Total Assets
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842,741.00 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
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Current Liabilities |
2005 |
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Other Current Liabilities |
17,393.01 |
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Total Current
Liabilities |
17,393.01 |
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Total Liabilities |
17,393.01 |
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Shareholders'
Equity |
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Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 10,000 shares |
1,000,000.00 |
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Capital Paid |
1,000,000.00 |
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Retained Earning -
Unappropriated |
[174,652.01] |
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Total
Shareholders' Equity |
825,347.99 |
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Total
Liabilities & Shareholders' Equity |
842,741.00 |
PROFIT &
LOSS ACCOUNT
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Revenue |
May
25, 2005- Dec. 31, 2005 |
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Sales |
1,453,650.20 |
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Other Income |
8.21 |
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Total Revenues
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1,453,658.41 |
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Expenses |
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Cost of Goods
Sold |
1,330,313.44 |
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Selling & Administrative Expenses |
297,996.98 |
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Total Expenses |
1,628,310.42 |
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Net Profit / [Loss] |
[174,652.01] |
FINANCIAL NOTE
NOTE 1
Cash in Hand & at
Bank
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2005 |
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Cash in hand |
1,844.68 |
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Cash at bank |
4,578.29 |
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Total
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186,553.24 |
NOTE 2
Other Current Assets
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2005 |
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Postdated Cheque |
3,852.00 |
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Accrued Withholding Tax |
541.01 |
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Accounting Account |
1,000.00 |
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Auditor Fee |
12,000.00 |
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Total
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17,393.01 |
FINANCIAL ANALYSIS
Annual Growth
& Profitability
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Profitability |
2005 |
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Cost of Good
Sold |
91.52 |
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Operating Profit Margin |
[12.01] |
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S & A
Expenses |
20.50 |
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Other Revenues |
0.00 |
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Net Profit Margin |
[12.01] |
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Earning Per Shares |
[17.47] |
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No. of Shares |
10,000 |
Compare each cost
with sales, Cost of
Good Sold was
91.52%, Operating Profit
Margin was -12.01%,
S & A
Expenses was 20.50%,
Other Revenues was
0.00%, Net Profit
Margin was -12.01%.
Earning Per Shares
was -17.47 baht
per share.
Liquidity
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Liquidity |
2005 |
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Current Ratio |
48.45 |
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Quick-Assets Ratio |
30.61 |
Current Ratio was
48.45, show Current
Assets can cover
Current Liabilities, Liquidity
Ratio of the
company was good,
Quick-Assets Ratio was
30.61, capacity to
pay Short Term
Loan was good
too, because Current
Assets without Inventory
can cover Current
Liabilities.
Leverage
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Leverage |
2005 |
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D/E Ratio |
0.02 |
D/E Ratio was
0.02, show the
company had fund
from Equity more
than fund from
Loan, investment risked
of the company
is low.
Efficiency
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Efficiency |
2005 |
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Total Assets Turnover |
1.72 |
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Return on Assets |
[20.72] |
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Return on Equity |
[21.16] |
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Day’s Inventories |
76.73 |
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Day’s Receivables |
85.64 |
Total Assets Turnover
was 1.72 times,
show the company
could use Assets
so efficiently, Return
on Assets was
-20.72, Return on
Equity was -21.16,
capacity to use
Assets to make
profit was not
good.
Day’s Inventories was
77 days, and
Day’s Receivables was
86 days.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)